Can You Seriously Trade Currency 24/7?

Forex trading begins in financial hub of Australia – Sydney on Monday morning through Friday afternoon in the US West Coast. All day and night some place or the other on the globe, forex is traded.

Still it is not a 24/7 market since it does close during weekends. So probably the suitable term would be 24/5 instead of 24/7.

forex ambush
You ought to understand time zones though in order to determine exactly when the global markets will open and close. A plain means to do this would be to use UTC units.

This is Universal Coordinated Time, previously called as Greenwich Mean Time. It is the normal winter time at zero longitude on the globe that is Greenwich, London.

Therefore the standard foreign exchange market operating hours would be beginning from Sunday 22:00 UTC to Friday 22:00 UTC. This is 10 pm in the United Kingdom in winter time.

Seeing that New York time is 5 hours behind UK time, the forex market globally would open and close at Sunday 5 pm and Friday 5 pm in New York, 2 pm at the west coast of the US, 11 pm at Germany and lastly 8 am Monday and 8 am Saturday in Australia, Sydney to be exact.

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The hours of the different primary national markets are as below:

Sydney: 10 pm to 7 am UTC Tokyo: 12 midnight to 9 am UTC London: 8 am to 5 pm UTC New York: 1 pm to 10 pm UTC

On the other hand, in Eastern US time or EST:

Sydney: 5 pm to 2 am EST Tokyo: 7 pm to 4 am EST London: 3 am to 12 noon EST New York: 8 am to 5 pm EST

You can behold that these accord to 24 hour cover.

It doesn’t insinuate that it is advantageous to trade at any time. Just after a leading market opens, the prices can be very volatile and changeable.

Many traders will be out of the foreign exchange market for up to an hour four times a day when the financial markets are getting ready to commence trade in these major cities.

forex megadroid
In theory then, trading can be consummated from Sunday night through Friday night, 24 hours daily. It even becomes imaginable physically owing to trading software that utilize robots.

In spite of this, veteran traders will choose to select optimal times and not insist on executing transactions in the forex market during the whole time that it is working.

Note: FX investing can be dangerous, may result in material losses, and is not suitable for every person.

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